As we usher in 2024, OUTFRONT is excited to share key insights from our 2024 Advertising Trends report. This comprehensive research is valuable for media professionals and brands crafting impactful marketing and media strategies in the coming year. Download the full 2024 Advertising Trends report.
In this article, I distill five crucial trends from the report, offering a snapshot of the dynamic shifts shaping the advertising landscape and providing actionable strategies for navigating the evolving marketing ecosystem. Without further ado, let's dive into the top five things you must know about advertising and marketing in 2024.
1. AI Revolutionizes Consumer Experiences
The report's standout statistic underscores a fascinating knowledge gap: 33% of consumers think they're currently using AI, but the reality is that 71% are already using artificial intelligence in their day-to-day lives.1AI is not just a buzzword; it's the linchpin reshaping how consumers interact with brands, serving as a catalyst for crafting personalized and engaging experiences. From chatbots that understand personal nuances to dynamic content delivery, AI is ushering in an era where advertising is not just seen but experienced.
2. Crisis of Trust in Digital Advertising
In the digital age, trust stands as the paramount currency for brands, and recent statistics underscore the severity of a crisis gripping digital advertising. A staggering 89% of consumers don't believe digital advertisers are honest and ethical.2 Marketers facing escalating privacy concerns and the overwhelming deluge of information recognize that trust is not merely a buzzword but a decisive factor that can significantly impact their bottom line. Navigating this crisis demands a strategic reassessment of digital advertising approaches, emphasizing rebuilding trust and fostering meaningful connections with the audience.
3. Brand Marketing Ascends
While performance marketing has long been in the spotlight, brand marketing is making a strong comeback. In an era where consumers seek authentic connections, brands investing in storytelling, values, and purpose survive and thrive. Airbnb took this approach, and its revenue climbed over 20% after adopting a brand marketing strategy.3 This illustrates the power of OOH and brand marketing to drive results by filling the entire marketing funnel.
4. Personalization Must be Clever, Not Creepy
Ad personalization has shown impressive results, as 94% of marketers say personalization has shown a strong impact.4 Consumers indeed crave tailored experiences, but the line between clever and creepy is thin. This delicate art emphasizes the need for brands to tread lightly, ensuring that data is applied with respect. In 2024, the winners are those who personalize experiences in a way that feels intuitive, enhancing rather than intruding on the consumer journey.
5. OOH Dominance in Multi-Channel Campaigns
Out of home advertising is not just effective for visibility; it has a proven impact across the entire marketing funnel. From awareness to conversion, OOH proves its worth in efficiency, effectiveness, and ability to integrate seamlessly with other channels. In an age where consumers are bombarded with messaging, out of home stands out as a dynamic force that captures attention and sustains engagement. A recent study further emphasizes this, highlighting OOH as the star performer when evaluating overall effectiveness throughout the journey down the marketing funnel.5 Combined with OOH’s low CPM, its remarkable efficiency positions this format as a premium choice for marketers seeking comprehensive and impactful strategies.
In summarizing the key takeaways, these trends become indispensable guideposts, directing marketers toward informed and strategic decisions in the coming year. To explore these pivotal trends further and learn more, download the complete 30+ page OUTFRONT 2024 Advertising Trends report. As we enter 2024, let's lay the foundation for advertising excellence and make success the standard!
SOURCES: 1. AUTHORITY HACKER, 9/2023, The State of AI in the Online Marketing Industry: 2023 Report
2. GALLUP, 1/2022, Rating the Honesty and Integrity of Professions
3. MARKETING WEEK, 2/2023, Airbnb’s earnings surge following ‘incredibly effective’ shift in marketing spend
4. SALESFORCE, 12/2022, Top Trends in Personalization
5. OUTDOOR MEDIA ASSOCIATION, 12/2022, A day in the life study
Posted at MediaVillage through the Thought Leadership self-publishing platform.
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The opinions expressed here are the author's views and do not necessarily represent the views of MediaVillage.org/MyersBizNet.